Hi,
To get the full benefits of my standard deduction( I am filing as a single/widower)
I can withdraw 12500 from my 401k in total right?
12500(401k)+5000(self employed)+1200*6=24,700 which make my social security benefits not taxable.
So my taxable income will be 5000 self-employed not part of the standard deduction, and 12500 401k withdrawal offset against my standard deduction of 16450? Am I calculating this correctly?
Thank you!
